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NTT to buy 74% of India’s Netmagic
27 January 2012
Buy-out will enable NTT to enhance cloud services offering via ICT infrastructure across Asia
Japan’s NTT Communications has agreed to buy a 74% share in Indian-managed IT hosting and colocation services provider Netmagic Solutions. The buy-out, which is subject to the sanction of Indian authorities, will enable NTT Com to expand and speed up its cloud services offering via ICT infrastructure across Asia.
Netmagic Solutions was formed in 1998 and operates seven data centres in cities including Mumbai, Chennai, Delhi and Bangalore. It has nearly 500 people and provides services to over 1,000 customers, in addition to ISP and cloud services.
Sharad Sanghi, Netmagic Solutions’ founder and CEO said: “This alliance will help Netmagic to leverage NTT Com’s global network and data centre footprint for customers. The partnership will also help us strengthen our growth plans in the Indian sub-continent and globally, while NTT Com’s global customers in India can benefit from Netmagic’s expertise and leadership position in the managed IT hosting and cloud services market.”
NTT also owns Dimension Data in Africa. GTB
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Dimension Data increases Kenya stake 20 Oct 2011
NTT's global IP network hits 500 gigabits 04 Aug 2011
NTT may repurchase $4.9bn of shares 16 May 2011